BIA approved budgets
Council approval is required to permit the City to collect funds through the tax levy on behalf of the local BIAs. Approval is goverened under The City of Toronto Municipal Code Chapter 19 and the City of Toronto Act, 2006.
This blogs past post on What is a Business Improvement Area?
Selected Comments from the cities report with some highlights.
The Bloor West Village BIA 2009 Operating Budget was approved at meetings of the
BIA’s Board of Management on September 17, 2008 and its general membership held on
October 7, 2008. The balanced budget of $386,665 in capital and operating expenditures
will be funded by a levy requirement of $338,851 and the appeal provision surplus of
$38,814, plus other anticipated revenues of $9,000 from festival events, GST recovery
and interest. The 2009 expenditure budget provides for a similar level of general BIA
administration, maintenance and promotion/advertising activities as budgeted in 2008. A
proposed increase in capital expenditure in 2009 is required to complete the gas lamp solar
conversion capital project. Blog Comment {interesting and thoughtful project in many ways} In 2008, the BIA had to reduce spending in BIA
administration, capital projects, advertising and promotion, so that current funds can be
used to cover the 2007 operating deficit. It is recommended that the Bloor West Village
BIA’s 2009 budget of expenditures totalling $386,665 and a BIA levy of $338,851 be
approved.
The Corso Italia BIA 2009 Operating Budget was approved at meetings of the BIA’s
Board of Management on August 11, 2008 and its general membership on October 6,
2008. The BIA proposes to increase the levy by 30% to $214,951 in 2009 after reducing
Staff report for action on 2009 BIA Operating Budgets 7
the levy by 20% in 2008 to assist the local merchants through the TTC construction
period. With its accumulated surplus funds used up in 2008, the BIA has to rely on new
levies to fund operating expenditures in 2009. Other revenue sources include the appeal
provision surplus of $15,741, expected GST recoveries of $10,000 and other income of
$259. To offset the negative impact that the TTC right-of-way and roadwork
construction along St. Clair Avenue has on the area, the BIA will increase advertising and
promotion of the area; the BIA expects a grant of $30,000 from the City’s “Shop Local”
campaign on St. Clair Avenue West to assist in this endeavour. The BIA proposes to
maintain the same spending level as in 2008 for BIA administration, promotion and
advertising, and capital maintenance. Capital projects planned for 2009 include new BIA
banners and flower planters. The pedestrian lights capital cost-share project is expected to
be completed by the end of 2008. It is recommended that the Corso Italia BIA’s 2009
budget of expenditures totalling $270,951 and a BIA levy of $214,951 be approved.
The Junction Gardens BIA was called to action in their management report for errors and was recommended to hire a part time bookkeeper or train their coordinator
The Junction Gardens BIA 2009 Operating Budget was approved at meetings of the
BIA’s Board of Management on September 9, 2008 and its general membership held on
October 2, 2008. The balanced budget of $282,123 in expenditures will require a levy
requirement of $259,904. In addition to the BIA levy, other revenues include the appeal
provision surplus of $21,969 that the City will be returning to the BIA, and interest
income of $250. Now that the 2008 centennial celebrations of the Junction are over, the
BIA proposes a 27% reduction in the expenditure budget in 2009 Blog Comment {why is the BIA in a developing area reducing the levy by 27 percent? All it does is lessen the amount the business owners can use for joint development and marketing ?}, comprised of a reduced budget of $128,245 for marketing and promotional initiatives, fewer capital maintenance activities requiring a budget of only $27,000, and undertaking three small capital projects
totalling $15,000 as a trial to see which one the BIA will choose to do on a larger scale in
2010. It is recommended that the Junction Gardens BIA’s 2009 budget of expenditures
totaling (sic)$282,123 and a BIA levy of $259,904 be approved.
The Parkdale Village BIA 2009 Operating Budget was approved at meetings of the
BIA’s Board of Management on September 8, 2008 and its general membership held on
October 6, 2008. The balanced budget of expenditures totalling $546,410 calls for a
similar levy requirement as in 2008. In addition to the levy, the BIA expects to receive
grants totalling $15,000 from the City’s Commercial Research Investment Program and
Mural Program, $9,000 in interest income, and an appeal provision surplus of $13,068
that the City is returning to the BIA. A major capital cost-share project for pedestrian
lights, deferred from 2008, will be undertaken in 2009 with $300,000 of BIA funds
already accumulated for this purpose. Besides capital spending for pedestrian lights and a mural, the BIA proposes to increase the maintenance budget by $24,000 for a new graffiti
removal program, and increase advertising and promotion in 2009. The BIA is projecting
an operating surplus of $65,799 in 2008 resulting from the deferral of the pedestrian
lights capital project and development of a Strategic Plan. As well, some 2008 proposed
promotional initiatives were deferred until 2009. It is recommended that the Parkdale
Village BIA’s 2009 budget of expenditures totalling $546,410 and a BIA levy of
$209,342 be approved.
The entire long list can be viewed in this report [Full report [opens in new window]
Posted by Robert
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